25 economies having highest debt in the world

There are many countries, including India, that are struggling to manage their spiraling debt.

Let's take a look at economies that have some of the highest debts in the world.

Note: Debt calculated as percentage of foreign-exchange reserves and sovereign-wealth-fund assets, 2012.

Source: The Economist

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Ukraine

Short-term gross external debt plus external debt payments: 270 per cent

Overall rank in debt calculated as percentage of forex reserves and SWF assets: 1

Ukraine, the third-largest grain exporter in the world, was badly hit by the 2008 global economic crisis, but is now seeing signs of economic recovery.

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Venezuela

Short-term gross external debt plus external debt payments: 260 per cent

Overall rank in debt calculated as percentage of forex reserves and SWF assets: 2

Venezuela, which has major reserves of oil and gas, has witnessed a decline in its export industry.

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Turkey

Short-term gross external debt plus external debt payments: 152 per cent

Overall rank in debt calculated as percentage of forex reserves and SWF assets: 3

Turkey, one of the fastest growing economies in the world, is a major trading partner of Europe.

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Hungary

Short-term gross external debt plus external debt payments: 149 per cent

Overall rank in debt calculated as percentage of forex reserves and SWF assets: 4

Hungary, a developed country in Europe, attracts millions of tourists every year.

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Poland

Short-term gross external debt plus external debt payments: 120 per cent

Overall rank in debt calculated as percentage of forex reserves and SWF assets: 5

Poland, which has been ranked very high in terms of human development, is the sixth most populous country in the European Union.

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Romania

Short-term gross external debt plus external debt payments: 99 per cent

Overall rank in debt calculated as percentage of forex reserves and SWF assets: 6

Romania, which was posting high economic growth until 2009, is a regional leader in information technology and vehicle manufacturing.

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Pakistan

Short-term gross external debt plus external debt payments: 90 per cent

Overall rank in debt calculated as percentage of forex reserves and SWF assets: 7

Pakistan, which depends on overseas remittances for its foreign exchange, is struggling to boost its economy primarily due to internal disturbances.

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Mexico

Short-term gross external debt plus external debt payments: 88 per cent

Overall rank in debt calculated as percentage of forex reserves and SWF assets: 8

Mexico, one of the fastest growing economies in the world, is projected to become the seventh-largest economy in the globe by 2050.

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Argentina

Short-term gross external debt plus external debt payments: 75 per cent

Overall rank in debt calculated as percentage of forex reserves and SWF assets: 9

Argentina, which is ranked as a middle emerging economy, is witnessing a revival in economic growth.

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Colombia

Short-term gross external debt plus external debt payments: 74 per cent

Overall rank in debt calculated as percentage of forex reserves and SWF assets: 10

Colombia, the third-largest economy in South America, is a major producer of coffee, emeralds, textiles and industrial chemicals.

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South Africa

Short-term gross external debt plus external debt payments: 70 per cent

Overall rank in debt calculated as percentage of forex reserves and SWF assets: 11

South Africa, the largest economy in Africa, is a major producer of diamonds, minerals and foodstuff.

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Indonesia

Short-term gross external debt plus external debt payments: 60 per cent

Overall rank in debt calculated as percentage of forex reserves and SWF assets: 12

Indonesia, one of the largest economies in Asia, is a major producer of timber, minerals and rice.

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Egypt

Short-term gross external debt plus external debt payments: 55 per cent

Overall rank in debt calculated as percentage of forex reserves and SWF assets: 13

Egypt, one of the largest economies in Africa, is going through economic turmoil due to internal disturbances.

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Vietnam

Short-term gross external debt plus external debt payments: 54 per cent

Overall rank in debt calculated as percentage of forex reserves and SWF assets: 14

Vietnam, which is projected to be one of the fastest growing emerging economies by 2025, has recently taken measures to attract more foreign investments.

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Chile

Short-term gross external debt plus external debt payments: 49 per cent

Overall rank in debt calculated as percentage of forex reserves and SWF assets: 15

Chile, one of the most stable and prosperous nations in South America, has been ranked the 30th most competitive country in the world.

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Bangladesh

Short-term gross external debt plus external debt payments: 47 per cent

Overall rank in debt calculated as percentage of forex reserves and SWF assets: 16

Bangladesh, which depends a lot on overseas remittances for foreign reserves, is taking measures to boost economic growth.

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India

Short-term gross external debt plus external debt payments: 45 per cent

Overall rank in debt calculated as percentage of forex reserves and SWF assets: 17

India, one of the fastest growing economies in the world, is finding it difficult to reduce its debt.

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Thailand

Short-term gross external debt plus external debt payments: 35 per cent

Overall rank in debt calculated as percentage of forex reserves and SWF assets: 18

Thailand, one of the biggest tourism destinations in the world, is witnessing a boom in economic growth.

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Brazil

Short-term gross external debt plus external debt payments: 30 per cent

Overall rank in debt calculated as percentage of forex reserves and SWF assets: 19

Brazil, one of the fastest growing economies in the world, depends largely on exports and tourism.

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Malaysia

Short-term gross external debt plus external debt payments: 25 per cent

Overall rank in debt calculated as percentage of forex reserves and SWF assets: 20

Malaysia, one of the fastest growing economies in Asia, has booming tourism and export industries.

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The Philippines

Short-term gross external debt plus external debt payments: 20 per cent

Overall rank in debt calculated as percentage of forex reserves and SWF assets: 21

The Philippines, which has the 40th-largest economy in the world, is projected to become the 16th-largest in the globe by 2050.

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Peru

Short-term gross external debt plus external debt payments: 15 per cent

Overall rank in debt calculated as percentage of forex reserves and SWF assets: 22

Peru, which depends largely on exports, has been ranked high on Human Development Index.

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Russia

Short-term gross external debt plus external debt payments: 14 per cent

Overall rank in debt calculated as percentage of forex reserves and SWF assets: 23

Russia, which has major reserves of oil and gas, is one of the biggest economies in the world.

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China

Short-term gross external debt plus external debt payments: 5 per cent

Overall rank in debt calculated as percentage of forex reserves and SWF assets: 24

China, the fastest growing economy in the world, is a manufacturing powerhouse.

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Saudi Arabia

Short-term gross external debt plus external debt payments: 2 per cent

Overall rank in debt calculated as percentage of forex reserves and SWF assets: 25

Saudi Arabia, which has one of the biggest reserves of oil and gas in the world, is taking measures to open its economy.